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A Brief History of Timeshare, Continued

Innovations

Another obstacle facing the timeshare industry came down to simple arithmetic: If developers divided ownership of the unit into 52 weeks, the year would have just 364 days! In order to solve this problem, the timeshare calendar was made to have 53 weeks alternating every fourth or fifth year. This 53rd week is generally given to the owner of week 52, making week 52 one of the most desirable weeks of ownership at most locations. Although the calendar sought to even things out, an owner with a fixed week would still have slightly different check-in and check-out days every year. This, coupled with the natural fluctuations in vacationers' schedules, created a need for a more flexible system and floating weeks were born.

In a typical floating week system, owners are deeded a fixed week, but are able to use either one week in a season of several, or any week year-round. The resorts typically require owners to request their week in advance, and reservations are based on availability, but savvy owners would now be able to vary their vacation time year after year.

One variation on floating time is the points system. Several point-based systems exists, however they all function similarly: Depending on the season an owners' week falls into and the size of their unit, they are assigned a point value for their week, thus simplifying the exchange process by combining various factors affecting demand into a single number.


Vacation Clubs

Favorable consumer attitude towards timeshare, along with increased flexibility that made it marketable, brought established hotel chains like Marriott, Hyatt, Hilton, and more into the timeshare business. These established names added credibility to timesharing along with new concepts designed to convert loyal hotel guests into owners. The vacation club is a variation of timeshare that can be hard to define as each club has slightly different practices and policies. Owners are either deeded a fixed week or a fraction of the actual building, but are able to use any property included in the vacation club for varying lengths of time, based on their level of ownership. Club membership often allows owners the ability to stay partial weeks or trade their week for room nights in hotels owned by the club.


Timeshare's Future

Innovation and the ability to react to changing consumer needs have defined the timeshare industry since its inception. In the near future, new products are sure to arise, each offering new ways to travel. One thing, however, is abundantly clear: For continued growth of timeshare, there must be a legitimate and robust resale market!

 

People will not continue buying timeshare, no matter how advanced it may become, unless they can sell it easily and affordably.
-Bay Tree Solutions has made this our commitment.

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